Dave King Press Conference on Monday

[NewtonMearns1690 6]

Gerrard has one of the top football agents worldwide as his agent and advisor, he did not come to Rangers for 6 million in the kitty, nor would his agent have let him under due diligence. All need to take a breath and let what is coming and going to happen, happen. 

[chris182 6,289]

[BRITNEY IS NOT FEELING IT 8,293]

5 minutes ago, sandyinroyalblue said:

Not selling Morelos in January seems even more baffling given this news.

N im doubting fees for the wee man are gonna be nothing like they were in January , n did that £12m bid actually fucking exist now 

[keithgersbear 3,225]

If the financial resources don't exist they don't exist, I don't know what some people expect, you can't just create money from thin air. 

[Tiger Shaw 30,455]

24 minutes ago, eskbankloyal said:

 

Cue Rangers media meltdown

 

[The Specky Forum Organiser 64,522]

He'll obviously have more than £6m to spend because of season tickets 

If Murray and Scott have left the board and it's not to make way for new investors that's a bit worrying though surely?

[Sweetheart 8,458]

1 minute ago, ScotBear said:

Gerrard is not coming here to play with the sort of budget Pedro had. No chance he is putting his reputation at stake with the odds stacked so firmly against him, he knows there is a huge gap between ourselves and celtic to bridge and he knows no matter his reputation there will be limited time before patience wears thin.

It might not be revealed until closer to his start date being 1st June, but I'm convinced there is going to be substantial investment come in from an outside source. Who, what, when, why.....I have no idea. But I do not believe Gerrard takes the Rangers job without serious financial backing.

I agree, SG wouldn't risk his brand for peanuts.

[RangersMedia 35,961]

The £6m will convert debt to equity so there won’t be any new cash into the club from that? 

There must be other money coming in, in the form of another share issue like @eskbankloyal says or Gerrard won’t have taken the job 

[ritchieshearercaldow 22,137]

Just reported on the radio, King has said they’re not talking to anyone new.

[eskbankloyal 19,446]

1 minute ago, psb07158 said:

The £6m will convert debt to equity so there won’t be any new cash into the club from that? 

There must be other money coming in, in the form of another share issue like @eskbankloyal says or Gerrard won’t have taken the job 

Fairly sure it's £6m on top of a debt tot equity conversion. 

[MayboleLoyal_atb 3,680]

6 million wont just be our transfer budget though. There is the Hummel deal and season ticket sales 

[The Specky Forum Organiser 64,522]

Didn't expect us to announce anything major but if there's no new investment they should have just kept their mouth shut. Such a feel good factor about the club the last few days and now this.

Why couldn't he have addressed the press last Friday?

Idiots

[born a blue nose 90,756]

3 hours ago, eskbankloyal said:

There's no point in trying to correlate a transfer budget with the rights issue. 

Last summer, Pedro spent £10 despite:

No European money

Next to no retail money

No share issue. 

This season, we may or may not have some European money depending on performance, a new kit deal, much increased retail performance, a 5% increase on ST & player sales income. 

Anyone thinking Gerrard will have a budget of £6m is off their head. 

Tbh I think Pedro done not too bad with only spending a tenner 

[JM1872 3,708]

There seems to be more people surprised by this "news" than not. King and co. have a history of anti-climatic clangers, why would this be any different?

There was another poster - not esk - on here the other day who said it was definitely happening, definitely money coming in, definitely some new faces (or something along those lines). Can't remember who, but he said it would be a few weeks yet. 

Anyway, as things stand, not a pot to piss in and that's the way it looks like it'll be for a while (certainly to us not ITK). 

[Lothianbear 361]

were a laughing stock again , septic fans rubbing it in big time , King makes us look daft

[ClydebankBearWATP 877]

Could look at it as 15 million from season tickets, 6 million from share issue and 3 million from hummel before any other income is generated.

24 million isn't to be sniffed at

[ForeverAndEver 71,462]

2 minutes ago, born a blue nose said:

Tbh I think Pedro done not to bad with only spending a tenner 

At least we will get decent profit from his signings..

[Bad Robot 21,148]

A total let down as some expected but king should have said nowt but saying £6M makes good business sense as why would we say we have 10s of millions only for selling clubs to hold us to ransom?

 

[Mesmer 27]

6 mill? There must be more.. Surely?..

[ClydebankBearWATP 877]

6 minutes ago, eskbankloyal said:

Fairly sure it's £6m on top of a debt tot equity conversion. 

So are we looking at being essentially debt free plus getting 6 million? 

[keithgersbear 3,225]

Club needs to get back into the champions league with overachieving management. 

[kaiser1041 9,088]

Unhappy Stevie g lapped up all the attention last week our Dave has another press conference telling us fuck all but as long as cunts are talking to him eh?

[backup 4,724]

29 minutes ago, eskbankloyal said:

It's been said numerous times that the first share issue will raise a small amount of cash but mostly be about converting debt then they plan to have a second one. 

 

It isn't a share issue,

[Jimfanciesthedude 24,540]

35 minutes ago, eskbankloyal said:

 

Glass half full guy here, but maybe the important word here is external, the investment might be coming from guys already here, 

[eskbankloyal 19,446]

Just now, ClydebankBearWATP said:

So are we looking at being essentially debt free plus getting 6 million? 

Without knowing the detail (if it was mentioned in the presser) it's impossible to work out but I don't see them being able to convert all the debt whilst raising £6m. All depends on the price & number of shares being issued.